The Real Deal Miami

Sports Authority store closings will bypass Miami

The retailer plans to close 18 Florida stores, but just one in tri-county South Florida

March 05, 2016 03:00PM

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Sports Authority announced Wednesday it filed to reorganize in Chapter 11 bankruptcy.

Sports Authority announced Wednesday it filed to reorganize in Chapter 11 bankruptcy.

Beleaguered retailer Sports Authority is closing stores across Florida but not in the retail-rich Miami-Fort Lauderdale metropolitan area.

On its website, Sports Authority lists 18 store locations in Miami-Dade, Broward and Palm Beach counties. The company announced Wednesday it filed to reorganize in Chapter 11 bankruptcy.

Sports Authority announced plans to close 18 Florida stores, including one in the central Palm Beach County community of Wellington and one in Port St. Lucie.

The retailer plans to close a total of 140 stores scattered across Florida and 24 other states and Puerto Rico.

Sports Authority CEO Michael E. Foss said in a press release that the company is “taking this action to adapt our business to meet the changing dynamics in the retail industry.”

According to its bankruptcy filing, Sports Authority has 14,500 employees and 463 stores, its liabilities exceed $1 billion, and its assets are between $500 million and $1 billion. [Sun-Sentinel] — Mike Seemuth

 

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